Form 150-310-078 - Application For Property Tax Exemption On Student Housing Page 2
Download a blank fillable Form 150-310-078 - Application For Property Tax Exemption On Student Housing in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Form 150-310-078 - Application For Property Tax Exemption On Student Housing with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2Oregon Revised Statutes
307.471 Student housing exempt from school district taxes;
the property qualifying the property for exemption under
application procedure; disqualification. (1)(a) Upon com-
this section after March 1 and before July 1, the initial claim
pliance with subsection (2) of this section, student housing
for exemption shall be filed within 30 days from the date of
shall be exempt from all ad valorem property taxes levied by
acquisition or change of use of the property.
a school district, a county education bond district, an educa-
(3) When, for any reason, the property or any portion
tion service district, a community college service district or
thereof ceases to meet the qualifications of subsection (1) of
a community college district.
this section, the owner at the time of the change shall notify
(b) As used in this subsection, “student housing” means
the assessor of such change prior to the next January 1, or
housing that is:
within 60 days after the date of disqualification, whichever
(A) Rented exclusively to students of any educational
is the earlier.
institution, public or private, that offers at least a two-year
(4) When property that has received special exemp-
program acceptable for full credit towards a baccalaureate
tion as student housing under subsection (1) of this section
degree;
thereafter becomes disqualified for such exemption, and
(B) Rented upon a nondiscriminatory basis, without
the notice required by subsection (3) of this section is not
regard to race, creed, color or national origin;
given, the assessor shall determine the date that the notice
(C) Owned by a nonprofit corporation having articles
should have been given, shall notify the owner thereof and
of incorporation that provide that on dissolution or liquida-
notwithstanding ORS 311.235, there shall be added to the tax
tion, the right, title and interest of the corporation in and
extended against the property on the next general property
to all accommodations and facilities with respect to which
tax roll, to be collected and distributed in the same manner
exemption is sought will be conveyed to the educational
as the remainder of the real property tax, an amount equal
institution or institutions whose students are served by the
to the sum of the following:
housing, and all its other remaining assets will be conveyed
(a) The total amount by which taxes assessed against the
to one or more organizations exempt from federal income
property would have been increased if it had been subject
tax under Section 501(c) (3) of the Internal Revenue Code;
to tax without regard to subsection (1) of this section during
(D) Owned by a nonprofit corporation that has made
the tax year for which the notice should have been given
legally enforceable arrangements to convey its interest in
and each tax year thereafter together with the interest which
any property with respect to which exemption is claimed to
would have accrued had the taxes been properly assessed
the educational institution or institutions whose students are
and the exemption not been granted in the applicable years;
served by the housing upon final payment of the mortgage
and
indebtedness incurred in connection with the construction
(b) A penalty equal to 20 percent of the amount specified
or acquisition of the housing; and
in paragraph (a) of this subsection, however, no penalty shall
(E) Regulated by federal or state law in regard to rents,
be imposed on any amount attributable to interest.
charges, development costs and methods of operation. The
(5) A fraternity, sorority or cooperative housing orga-
renting of the property for safekeeping purposes during the
nization, or an associated alumni nonprofit corporation
summer months shall not disqualify the property from the
organized exclusively for the purpose of owning property
exemption granted by this section.
housing the fraternity, sorority or cooperative housing or-
(2)(a) Except as provided in paragraph (b) of this subsec-
ganization and providing related financial and operational
tion, the nonprofit corporation shall apply to the assessor for
support, may qualify for the exemption provided by subsec-
the exemption on or before April 1 of the assessment year for
tion (1) of this section if the requirements of subsection (1)(b)
which the exemption is claimed on forms prescribed by the
(A) and (B) of this section are met, provided that any of its
Department of Revenue. The exemption claim shall include
housing accommodations not occupied by members of the
a certification by the university, college or community col-
organization shall be open to occupancy by students who are
lege attended by a majority of the student occupants that
not members of or affiliated with the organization, on a non-
the property is being used for student housing during the
discriminatory basis, without regard to race, creed, color or
current school year. Once an exemption has been granted,
national origin, under rules or conditions set by the school.
the exemption shall continue in effect, without reapplication,
(6) Additional taxes collected under this section shall
until the property fails to meet the qualifications of subsec-
be deemed to have been imposed in the year to which the
tion (1) of this section as exempt student housing.
additional taxes relate. [Formerly 307.460]
(b) If the property designated in the claim for exemp-
tion under paragraph (a) of this subsection is acquired after
March 1 and before July 1, or if there is a change in use of
150-310-078 (Rev. 01-11)
ADVERTISEMENT
0 votes
Related Articles
Related forms
Form 150-310-020 - Application For Cancellation Of Assessment On Commercial Facilities Under Construction - 2001
Financial
Form 150-310-020 - Application For Cancellation Of Assessment On Commercial Facilities Under Construction
Financial
Form 150-310-020 - Application For Cancellation Of Assessment On Commercial Facilities Under Construction Or Construction
Legal
Form D.v.s.s.e - Claim For Property Tax Exemption On Dwelling House Of Disabled Veteran Or Surviving Spouse
Financial
Form D.v.s.s.e. - Claim For Property Tax Exemption On Dwelling House Of Disabled Veteran Or Surviving Spouse/civil Union Or Domestic Partner Of Disabled Veteran Or Serviceperson
Financial
Related Categories
Parent category: Financial